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Isram Realty Group buys Pinebrook Commons

  • By
  • | 8:39 p.m. November 11, 2011
  • Commercial Real Estate
  • Manatee–Sarasota
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BUYER: Isram Pinebrook LLC (principals: Shaul Rikman and Shai Moschowits), Hollandale

SELLER: FNC Realty Corp

PROPERTY: 4902 W. Cortez Road, Bradenton

PRICE: $1.13 million

LAW FIRM ON DEED: FNC Realty Corp., New Hyde Park, N.Y.

PLANS, DESCRIPTION: Hollandale-based Isram Realty Group purchased the 33,341-square-foot Pinebrook Commons on Cortez Road and 51st Street for $1.13 million.

The price equated to $34 per square foot.

Anchored by a 9,822-square-foot Dollar General store, the retail strip also houses Pinebrook Dental Center, Subway Restaurant, Great Clips for Hair, Tanfastics Tanning, Metro PCS, State Farm Insurance, Marcy's Salon and Thai Palace Restaurant.

A third of the center, 10,746 square feet, is currently vacant.

Founded in 1995, Isram Realty Group currently owns, leases and manages 1.6 million square feet of primarily retail space. It also owns the nearby Desoto Junction, North Port Village and Palmetto Village centers.

The purchase entity Isram Pinebrook LLC mortgaged the property to Apollo Bank for $731,250.


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